True, but Amazon won't buy them for solely that business alone whereas the Saudi's have endless money to dump into Lucid. My guess is either Rivian stays a niche market player if they can control their cash burn, or they will be sold to another large manufacturer.
EV Startups Fisker, Nikola, Lucid Sink On Wide Losses, Output Cuts. Rivian next?
I read a quote that said making EV's is easy, making an EV car company is hard.
The EV startups Fisker (FSR) and Nikola (FSR) missed Wall Street's estimates early Tuesday after Lucid (LCID) fell short late Monday. Rivian (RIVN) is on deck late Tuesday. FSR stock, NKLA stock and LCID stock all tanked in Tuesday morning trade. Analysts expect Rivian to lose $1.61 per share, widening from a $1.42 loss a year ago. Revenue is seen surging 596% to $661 million.
A price war in the electric-vehicle market and a bankruptcy warning from a troubled peer set the tone for the week's earnings reports.
Investors are placing heightened emphasis on cash burn and production targets, amid recession fears and the Lordstown warning. Even Tesla (TSLA) recently gave a cautious production outlook. Its price cuts earlier this year set off an EV price war, while adding to pressure on the startups.
Going forward, traditional auto giants such as General Motors (GM) and Ford Motor (F) are set to significantly expand their EV output.
I would worry about future warranty (an after warranty) work when buying a car from a startup.
www.investors.com
The EV startups Fisker (FSR) and Nikola (FSR) missed Wall Street's estimates early Tuesday after Lucid (LCID) fell short late Monday. Rivian (RIVN) is on deck late Tuesday. FSR stock, NKLA stock and LCID stock all tanked in Tuesday morning trade. Analysts expect Rivian to lose $1.61 per share, widening from a $1.42 loss a year ago. Revenue is seen surging 596% to $661 million.
A price war in the electric-vehicle market and a bankruptcy warning from a troubled peer set the tone for the week's earnings reports.
Investors are placing heightened emphasis on cash burn and production targets, amid recession fears and the Lordstown warning. Even Tesla (TSLA) recently gave a cautious production outlook. Its price cuts earlier this year set off an EV price war, while adding to pressure on the startups.
Going forward, traditional auto giants such as General Motors (GM) and Ford Motor (F) are set to significantly expand their EV output.
I would worry about future warranty (an after warranty) work when buying a car from a startup.
EV Startups Sink On Widening Losses, Production Cuts
Lucid kicked off this week's results from several money-losing EV startups.
www.investors.com
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21 - 26 of 26 Posts
